XRP News: Ripple Escrow Unlocked; XRP Price To Take A Hit?

XRP News: Ripple’s native token, XRP price has been stagnant over the past few weeks due to the pending summary judgment in the XRP lawsuit. It is expected that the US district court announcing a judgment in the favor of Ripple or the US SEC can make or break the XRP price.

Ripple Unlocks 1 Billon XRP

As per the data, Ripple has unlocked 1 billion XRP tokens (approx worth $378 million) in multiple transactions. This directs that now almost 51 billion XRP tokens have come into the market. This makes up 51% of the total supply.

However, the whale took the benefit of it and went on to scoop around 32 million XRP in a single transaction. Unknown whale address added $12.28 million worth of XRP from the Bitso crypto exchange. Read More XRP News Here…

Meanwhile, A whale shifted around 41 million XRP to the Bitstamp crypto exchange in order to dump its holding. As of now, the whale has moved $15.88 million worth of XRP tokens to the token.

Ripple’s Native Crypto Fav Among Whales?

On the market side, the XRP price is up by almost 12% on the year to date (YTD) basis. However, XRP Price is marginally down over the past 24 hours. It is trading at an average price of $0.37, at the press time. However, its 24 hour trading volume has dropped by 14% to stand at $846 million.

Despite facing an XRP lawsuit from the US SEC, Ripple’s native token has held its fort. XRP is still the 6 largest crypto with a market cap of around $19.2 billion.

As the summary Judgement in the XRP lawsuit closes in, crypto whale’s interest in Ripple’s native crypto has also spiked up. Data provided by the BSC whales depicts that the top 100 whale wallets are holding around $26.8 million worth of XRP. This makes 2.36% of their total holding.